Gryphon Investors (“Gryphon”), a San Francisco-based middle-market private equity firm, announced today that it has acquired Ncontracts (or the “Company”), a leading provider of integrated risk management software and services for the financial services industry. The deal marks Gryphon’s second investment in Governance, Risk, and Compliance (“GRC”) enterprise software solutions, following the firm’s December 2018 investment in RegEd, also a provider of GRC solutions for the financial services industry.
Ncontracts was founded by CEO Michael Berman in 2009 to offer enterprise risk management software tailor-made for the financial services industry. The Company’s expanded product line now includes a comprehensive set of risk management tools encompassing compliance, vendor management, and enterprise risk management. Based in Nashville, Tennessee, Ncontracts has more than 1,300 customers across the United States, and in 2019 was named to the Inc. 5000, Inc. Magazine’s annual listing of America’s fastest-growing private companies.
As part of the transaction, three Gryphon executives will join the Ncontracts Board of Directors – Nick Orum, President and Co-Head of the Software Group; Carl Theobald, Software Operating Partner; and Jon Cheek, Software Principal. Mr. Berman will remain CEO of the Company.
“The risks facing financial institutions are multiplying and becoming more complex, and no bank, regardless of size, can justify using spreadsheets today to manage the process when the stakes are so high,” said Mr. Cheek. “Ncontracts’ software has made it easy for financial institutions of all sizes to manage the spectrum of complex risks and regulations facing them today.”